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Citi to price two-year buffer securities tied to SPDR MidCap 400
By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Jan. 29, 2021 linked to the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any ETF gain, up to a maximum payout of par plus 23.25%.
The payout will be par if the ETF falls by up to 10%. Investors will be exposed to any losses beyond 10%. The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on Feb. 5 and settle on Feb. 8.
The Cusip number is 17326YQY5.
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